Is a 1968 GT/CS with a 289ci engine a good investment?

[classicsguy]

This post is BY NO MEANS to put down the owners of C-code cars or 6 cilinders cars. After all the California Specials are limited edition collector cars no matter what engine they have.
Here is my point: Since a C-code CS cannot be a True GT since only J,X,S and R codes can have the GT option,these C code cars don't seem to have the desirability of a J or S code CS. I have been watching for years GT/CS on E bay and they dont seem to get higher bids. Maybe its the fact that they are more common and I cant remember when was the last time I saw a J or S code on E bay.
I have seen Jason's car from this forum for sale and his car is in TOP CONDITION with perhaps one of the more beautiful colors that '68 CS has to offer and great factory options. This car in my opinion is priced fairly and is still for sale. Seeing this trend I remember that years ago a very well known Mustang dealer in the US told me: '' If you buy a California Special with the 289 ci engine you are buying a coupe with an appearance package''
Its a fact that Mustang coupes in general are the least desirable of the bodystyles.
My question is; Do you think that the fact that all California Specials are coupes is the reason that they do not seem to be getting the desirabilty of the other Mustang bodystyles even if they are not California Specials?
I am also aware of the fact that most people do not know a ''bleep'' about these rare cars and this forum is dedicated to give these cars the recognition they deserve.
Please post here your comments on this post and let me know who agrees or disagrees with this post.

 

[390cs68rcode]

I would say yes being a coupe hurts the value to the general person looking at these to buy.

Yes, I am also scratching my head wondering why no one has bought my car. I have had 3-4 people call me on the phone and pretty much say they are pretty interested but have to think about it. I have had 2 people from the UK say they were going to wire money to me and nothing has come about other than just talk by email.

A car just like mine sold for the same amount mine is for sale for just a week before I put mine up for sale.

go figure.

:frust:

 

[PNewitt]

I would like to put a few things about the 289/302 2bbl. GT/CS in perspective.

About 85% of all the engines produced for the GT/CS were just that-- 2bbl. 289 (or 302 blocks) "C" code cars, with both stick and auto C-4 transmissions.

I've heard about it all. "A coupe with an appearance package", and even some Shelby owner/dealer called it a "wife car" to my face back in about 1982 (which btw didn't sit well with me).

The truth is that it WAS an appearance package, to sell iron off the showroom door. It didn't sell real well back then, and in fact, I've gotten Marti reports saying that cars arriving at the dealer sold about 4-6 months later. Some as late as the Spring of '69.

BUT....here are the real numbers. ONE in about seventy 1968 Mustang coupes made was a GT/CS. The total production, including the '68 HCS, is STILL less than the 1968 Shelby.

Some may argue--but there isn't a whole lotta difference between a 289/302 2bbl.--- and a '68 Shelby GT-350 "302" engine, outside of the Cobra intake, cam and distributor (all things that can be installed into a stock 289).

Speculators have been saying that "anything with a big block is worth six figures", which includes the Shelby GT-500s, Dodge Challengers, Chevelles, Camaros, etc... Just like new cars, the values are based on 80% marketing, and 20% iron. The same holds true for classic cars. The values show up if and when something makes those cars desireable. "Gone in 60 Sec." put '67 GT-500s through the roof: the Japanese buying muscle cars in the 80's shot prices up, too. The high-rollers of auctions are one world, which I wouldn't look at too closely. It's the buyer here and there in the auto-trader who wants to haggle for a small-block car, that keeps the price down.

When these cars are restored, and sometimes if they get the argent or chrome wheels (with plain caps), they are real lookers. We've seen it all over this site. "Most" of these 2bbl. cars end up with alum. 4bbl intakes on them, wit hCobra valve covers and air cleaners. Some might even make those "stroker" engines that may put out 250-300 hp. And then there are the Paxton or Vortex blowers.

So--I would grab any 289 GT/CS if I had the room, myself. There is no engine badging on the fender, so who will know? I wouldn't dismiss the coupe as the least desirable. After all, a Shelby convertible with the top up looks just like one, and the Green Hornet once sold for $200K. Besides--the coupe was the body style races in trans-am in '67 and '68, since they were lighter cars with better rear visibility. So..someone(s) giving out false rumors out about coupes.

Maybe this will help. Those who don't know these things, will lose out to the potential in values down the road.

Paul N.

 

[imported_tree]

Well I Would Like To Respond To This Issue About The 289 Power Plant/ C Code. When I Was Looking For A Mustang To Buy , Many Cars Came With A 289, 302, 351 390, The Car That I Bought Has A 289 Or 302 Block From The Factory, (waiting For Updated Report From Marti). This Vehicle Has More Than Enough Power For My Needs For Every Day Or Sunday Driving. As Far As The Coup Look I Belive The Beauty Is In The Eye Of The Be Holder.there Is So Much One Can Do If You Want To Spend The Money To Beef Up The Engine Or Put Stock Items From Others Mustangs Or Shelby To Get The Look You Want,not Someone Else. What I Am Trying To Say , These Cars Are A Thing Of Personal Pride, Ownership, And A Big Part Of Mustang History, I Thank My Lucky Stars That I Can Say That I Own One Of These Beauties And Hope To Buy Another One To Fix Up.to Sum It Up I Think That This Is Great Way To Make Money In The Long Run And Enjoy It At The Same Time,, Just My Opinon On This Subject. P/s Steven Your Car Looks Great And Dont Give It Away !!! Stay With Your Set Price

 

[390cs68rcode]

P/s Steven Your Car Looks Great And Dont Give It Away !!! Stay With Your Set Price

Not to worry. I know what the car is truly worth, just have to wait until someone else realizes it as well.

 

[Russ]

Maybe I'm missing something, but every publication I read has the value of a GT/CS near the top of the "food chain" for 1968 Mustangs (Cobra Jets are at the top and I don't even try to compare a Shelby to our cars.). Old Cars Weekly price guide clearly identifies GT/CS cars as more valuable that even a convertible!!

Unfortunately, many threads/comments I've read on this site bad mouth many GT/CS-HCS cars that are for sale and demean the prices of these cars as "too high". People looking to purchase a CS/HCS read comments from this site and come away with the opinion that our cars aren't too valuable. While I'm not advocating we all inflate the value of our cars, it is clear that these are rare cars and command the respect of the Mustang community. Value should be dictated by the condition of the car, its desirability and the fact that these cars are unique.

I guess what I'm trying to say is that if we don't promote our cars, as Paul has done with his books, no one will. And Jason, don't lower your price, add $1000 (or more) and a buyer will be knocking on your door.

Just my thoughts,
Russ

 

[Doug57]

I agree with Russ 100 percent.We all talk about our love for these rare cars,but anytime a discussion comes up about price,its met with resistance.Stay positve on the price.Talk it up not Down.Just my thoughts.Doug57

 

[68gt390]

I agree with Paul's post 100%. The one thing I think that's been overlooked so far was the prices of these car's back in the 60's. Most folks back then wanted a mustang but, couldn't afford the extra bucks that were required for the big block. Therefore they opted for the small block cars. I also feel that's one reason you see a lot of the big blocks without the added bell's and whistles like A/C, deluxe interiors, power steering and posi's.

Like today most folks back in the 60's wanted power but, they opted to put their extra money into the small block and get the power they wanted. I know I was one of those folks. It seems today, folks don't care what they have to pay for the added power. That's evident with todays price tags being placed on the high power car's that are coming out.

We all know that any big block will pull good money and that's just the way it is. I know from my own experiences at car show's I can usually count the number of big blocks on one hand. And that goes for all the auto makers. I see more 289's, 302's, 318's, 327's and 350's, 351's than I do big blocks.

I also have to say I agree with Russ' comments. We here on the site too many times run our car's down. It's great that we post comments about what may be wrong with the car or how it may be a clone. But, when we comment on the price being to high or I wouldn't pay that for that car it only degrades our ability to market our cars. Thanks to Paul's books and Jon's website we have the ability to build our car's up. It's time we do that. Take your car to local show's regardless of it's condition, drive it around town and let folks see it and talk about it. Our comments on these threads have more power than I think a lot of us realize.

I'll add one more comment about a previous post I made here. The fact that a national diecast maker has taken an interest in making a "COUPE" diecast of both the GT model and our GT/CS's says it all. I'll be updating that thread here in the very near future. The Mustang Coupe is alive and well and I think will hold it's own in the future regardless of it being a small block or big block.

And last but, not least - Purchase of a GT/CS regardless of it's engine size is woth it's weight in gold. I do know this - My GT/CS, price wise is all over my GT Coupe.

Don :icon_ecst

 

[Mustanglvr]

It could have been worse. The coupes could have had 4 doors.
:teleport: Hey, these smileys are fun!

 

[68gt390]

It could have been worse. The coupes could have had 4 doors.
:teleport: Hey, these smileys are fun!

Rhonda;
The 4 door coupes would have only been marketed in MN. That way you guys and gals up there could get in and out of the snow quicker!!!!

Don :icon_lol:

 

[Mustanglvr]

Ha,ha, I thought it snowed in Ohio too?

 

[68gt390]

Ha,ha, I thought it snowed in Ohio too?

Your right it does. I'm fortunate that I'm in Central Ohio and we don't get that much. Hey, I just looked out my window - I can still see my grass. Now up North, it's a whole different story. I'm just glad I'm not in North Dakota anymore.

Don

 

[rvrtrash]

I agree with Russ also. In fact, I brought up the very same point about a year ago. When I go to cruises/ shows or just driving around, people always come up and say "Wow, I've never seen one of those before" or "I remember those, I haven't seen one in years" and ask me what it's worth. I always tell them NADA values it at $32K + in this condition and leave it at that. I don't plan on selling it within the next 20 years but it still needs to be recognized for what it is. :icon_ecst
Steve
PS, It's snowed twice so far and melted both times. Cars are in the garage, on jack stands and covered for the winter. Time to get the skis out. :thumb:
Steve

 

[case12]

The discussion should be separated somewhat between engine and body style.

Would I rather have a 428CJ in a coupe, CS or fastback? I would take any of them, but prefer a CS.

Would I rather have a 390 in a coupe, CS or fastback? I would take any of them, but prefer a CS.

Would I rather have a 289 or 6cyl coupe, CS or fastback - Only a CS would do for me.

Casey

 

[classicsguy]

I have to agree about Jason's car,stick to your asking price because the car is worth it. I know sometimes its difficult to accept the positive comments from this forum but car is not selling. It happened to me with a 1965 GT coupe with factory special order paint. A lot of interest but no buyers.
I remember when I saw Don's car advertised on a dealer in Seattle Wa. if I can remember right. the advertised price was like$25,000.00 and this car is a 4 speed S-code with the GT package!!! You cant ask for much better than this. Even with these options back then Don got the car for less than $18K if I am not correct Don please feel to correct me.
I have been looking for an S code GT/CS project since 2002 checking e bay daily and posting wanted ads here and have not found one. I will consider also a J code 4 speed or auto and they are scarce,all I see are C-codes all over the place and being more common thats why they are not commanding the high prices we are seeing on other Mustangs specially Fastbacks.
Jason if I had the money I will purchase your car on the spot!!! I could drive it all the way to Puerto Rico!! Most people will try to diminish the value because its a C code Coupe but stay firm and I think you are and the right buyer will come through.
I once posted a post about "Will you trade your GT/CS for a same year Fastback'' and NOT EVEN ONE PERSON replied that they would trade it. The only reply I got for trading was that they would trade for a Shelby.

 

[Russ]

I guess I had better come to the defense of the "C code" CS/HCS Mustangs. IF fastbacks are commanding high prices (and I don't really think original restored cars are), the ONLY reason they are is because of all the "Eleanor" and Shelby "clones" that need bodies to be modified. It's the law of supply and demand...that's it! I don't have any interest in these hybrid Mustangs, BUT some people think they are great.

Yes, there were more "C code" CS/HCS Mustangs produced, and therefore they are more plentiful today, BUT with only 4025 CS-HCS cars built, ANY CS/HCS is pretty rare. Just keep in mind that value is totally in the eye of the beholder OR purchaser. Big block cars are nice, and fastbacks are nice too, but those small block CS/HCS Mustangs are also really cool. Personally, I love my 289!!!

Russ

 

[390cs68rcode]

just so everyone knows I will not be coming off my asking price. I don't NEED to sell the car. Kinda like my second house has not sold since March of this year.

What will probably happen is both my second house and car will sell within a week of each other. :thumb:

 

[6t8-390gt]

I typed up a nice long post before dinner and lost it, so this time I will be brief.

The coupe was the most popular body style sold in 1968, so I don't think it was less desireable then...or now.

Supply and demand is #1, condition and options #2. The more options the higher price, generally.

Was this brief enough?

 

[PNewitt]

Sooo.....you lost your Dinner, or your post? (kidding)

While I was driving to work today, I saw an '05 with white LeMANS Stripes on black, and on the fender was a "4.0" emblem. If anyone is having a problem with a 2bbl 289, just remember that the V6 4.0 is now standard.

There is MORE visual appeal to the GT/CS than engine size. That is how it was designed..."looks like a Shelby GT".

I really think that the CS is such a "niche market", that the true value is realized when it's promoted to a wider audience. Yes, EBAY, and the internet is big, but not everyone looks there.

Just think of the GT/CS as the "sleeper Shelby", regardless of engine size.

PAUL N.

 

[68gt390]

I remember when I saw Don's car advertised on a dealer in Seattle Wa. if I can remember right. the advertised price was like$25,000.00 and this car is a 4 speed S-code with the GT package!!! You cant ask for much better than this. Even with these options back then Don got the car for less than $18K if I am not correct Don please feel to correct me.

When I purchased the car in Feb 04, I actually paid $16,500.00 for it. What has to be realized is at the time I bought the car there was a lot of work that needed to be done to it. Yes, the majority of body work and exterior paint was done back in 1996/97 (see gallery photo's for body work pictures) and it looked very good. If someone who had very little knowledge of Mustangs and didn't know what to look for had been looking at the car, they would of more than likely have paid what the dealer was asking. The only reason I feel I was able to get it at the price I did is because the dealer knew the following:

1. I knew what I was looking at and even though they did try to snow me on several occassions it didn't go over. They tried the old switch salesman trick and several other things.
2. They were aware of the work the car still needed.
3. They had no other offers on the car.
4. They asked me to make them an offer on the car and I offered them what I felt was a fair price based on what I saw and the work I knew the car still needed. Didn't realize the floor pan issues until after I got the car home and was able to scrape some of the several layers of undercoating off. Had I been aware of those issues I would of offered them a little less.

Based on the current price listings from several price guides at time of purchase, I paid about what was average for the condition the car was in. Since purchase I have (without going through receipts) and being on the conservative side put at least another $7000.00 to $9000.00 into the car. As she now sits, nothing else needs to be done other than another engine rebuild thanks to my self inflicted stupidity on the engine. Had the car been in the condition it now is at the time I purchased it I would have expected to pay well into the high 20's or low 30's if not more for it. That is the main reason I bought the car. Knowing it was an "S" code 4 speed GT/CS and being able to do some of the work myself in the long run, I know I saved myself some bucks. The bottom line is this: You have to know what your looking for and what your looking at and what your willing to pay. It goes back to the old adage that we've all said on this site: "BUYER BEWARE". You have to do your homework. Also, supply and demand comes into play. There has to be a buyer in order to effect a sale. I may never get out of the car what I've put into it but, that doesn't matter to me. As I've stated before, I enjoy driving the car to much to sell it. Plus, having been raised in Southern California in the 60's I already knew a little bit about the GT/CS. I just hope someday my son can enjoy the car as much as I do today. I only wish I had more room in my garage because I'd buy another GT/CS if the price was right regardless of the engine or options. Sorry folks for taking this off the main topic.

Don :grin: